Re: CTXS Q1 2000 Results
Thread- Kind of a relief. Without one-time, I believe they may have beaten expectation of $.19/share coming in at $.21/share. I was getting concerned with all the rumors floating around. I believe the top line is better than expected, but it's only from memory. -MikeM(From Florida)
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Citrix Systems Reports Record Results for First Quarter 2000
Revenues up 50% on Demand for Citrix Application Server Software and Services
FORT LAUDERDALE, Fla. - April 19, 2000 - Citrix Systems, Inc. today reported results for the first quarter ended March 31, 2000.
Financial Highlights
Net revenues for the first quarter ending March 31, 2000, were $127.5 million, up 50% from $85.0 million in the comparable period of the prior year. Net income, excluding the amortization of intangible assets relating to business combinations, was $43.9 million for the first quarter, or $0.21 per share, as compared to $28.2 million or $0.15 per share for the first quarter of 1999. Net income for the first quarter of 2000 was $38.5 million or $0.19 per share, as compared with net income of $25.8 million or $0.14 per share for the first quarter of 1999.
In February 2000, Citrix effected a two-for-one stock split. All share and per share information has been adjusted to reflect the effect of the split.
Business Highlights
Business highlights in the quarter included the launch of three products, improved results in all geographic regions and continued investment for future opportunity, as follows:
Three New Products Released -- Citrix launched MetaFrame for Windows© 2000 Servers, MetaFrame for the Solaris Operating System and NFuse, a new Web application portal product, as part of extending these product lines into new markets.
Strategic Acquisitions Announced -- Citrix acquired the Innovex Group to enhance its consulting-service offerings for integration partners and customers, and more recently, agreed to acquire India's PowerTel BOCA Ltd. to support growth in a key emerging market.
ASP Market Leadership -- Citrix strengthened its position as an infrastructure leader in the application service provider (ASP) market with additional ASPs signing up for the Citrix iBusiness Program, and the announcement of a strategic partnership with IBM to make server-based application hosting in ASP data centers faster and easier.
Improving Brand Awareness -- Citrix launched its "Digital Independence?" branding campaign worldwide as part of raising the visibility of the Citrix brand in the marketplace.
"We believe that the key to achieving our growth goals is to couple strong financial performance with strategic investments for the future as we did in the first quarter," said Mark Templeton, Citrix president and CEO. "We intend to continue creating new opportunities by 'webifying' our offerings and building channel and customer support for the new products and services we launched in the first quarter."
"We believe that continued growth in the application server markets creates a large opportunity for our application serving solutions," said Edward Iacobucci, Citrix chairman and CTO, "and we are focused on enhancing our existing offerings and developing new products to meet these market demands. This focus will position us to both deepen our value proposition for existing enterprise customers and open up new revenue streams with emerging opportunities such as the ASP market." |
